Guide to Fleet Management, Mileage, and Expense Tracking

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Managing a fleet is a difficult task. With fleet tracking a company will have various benefits. Fleet tracking, often known as “telematics,” became popular in the 90s. This technology has grown and adapted into a powerful powerhouse during the last few decades. 

Nonetheless, it is frequently received with legitimate skepticism and reservations. Myths and anxieties about fleet monitoring may deter fleet managers from experimenting with software that has the potential to transform the way they do business. 

Let’s look at how fleet management and corporate mileage and cost tracking systems may assist fleet managers to work more efficiently. These categories have arisen in recent years, providing companies with a vehicle fleet with considerably more visibility into how to optimize their operations.

What is Fleet Tracking?

Fleet tracking is a management solution that monitors the activities of fleet vehicles and assets using GPS tracking (e.g., workers, and equipment). It is also known as vehicle tracking or AVL. A fleet is a grouping of land-based assets such as automobiles, trucks, field personnel, and powered or unpowered equipment.

How Does Fleet Tracking Work?

Fleet tracking benefits businesses of all sizes and across a wide range of sectors. The one-time, plug-and-play hardware is simple to install on each vehicle. This equipment can run on batteries or be connected to the vehicle’s electrical system.

When the hardware is deployed, it automatically tracks and transmits data to cloud-based applications. Managers may access real-time and historical data from any location and at any time. The data is backed up, protected, and never shared with a third party.

Elements of Fleet Management Tracking 

These are some common aspects that fleet managers must manage:

• Tracking their fleet’s whereabouts at any given time
• Route optimization to ensure that drivers take the shortest and most efficient route available.
• keeping proper documents for tax compliance.
• Transformation to the digital age. i.e. less reliance on manual or paper-based procedures
• Reducing and preventing fraud. Ensuring that drivers do not make fraudulent claims, whether intentionally or unintentionally.

Fleet Tracking Common Myths

A company may be concerned when they plan to use fleet tracking devices which can make the entire process overly complicated. But all their worries are for naught as fleet tracking is more beneficial for them. Listed below are some of the commonly asked questions and their answers about fleet tracking:

Will the employees lose trust in the company?

Most probably not, as fleet tracking will benefit both the company and the employees simultaneously.

Is fleet tracking micro-management?

No! Micromanagement is reduced through increasing communications and establishing clear standards for job quality and responsibility.

Is fleet tracking legal?

Yes! Fleet tracking, in reality, increases compliance with vehicular, traffic safety, and environmental rules and regulations.

Will drivers’ time be wasted?

No. Data is automatically gathered after installation. Operators no longer need to fill out paper logs, log into a device, or scan any codes using a tracking device.

Expense and Mileage Tracking 

A fleet management system must have a mileage and expenditure tracking system. A mileage app will result in considerable cost and time savings, regardless of whether a firm provides a fuel card or reimburses vehicle users. After all, a mileage tracker may give a wealth of information to help you manage your fleet more effectively.

Advantages of an Expense and Mileage Tracker 

Management of tax

Intended to distinguish between personal and professional visits and to avoid potential benefit-in-kind administration and expenditures.

Compliance

HMRC compliance (UK) is ensured since all travels are logged with precise mileage to the decimal point.

Optimization of time

Effective use of a worker’s time can be achieved, including the identification of idle time with efficient planning thanks to tracking.

Route optimization 

It helps in optimizing mileage routes efficiently. Fewer miles will reduce costs significantly and decrease wear and tear and C02 vehicle emissions.

Prevention of fraud 

The data provided by a mileage and spending tracker helps to combat fraud while also serving as an extra incentive.

Management of drivers

Fleet managers can monitor the driver’s behavior and check faults like harsh driving, acceleration, heavy braking, and speeding. 

Financial Reporting 

Fleet owners and managers can get accurate KPIs including cost per journey and miles per gallon.

Flexibility 

Advisory Fuel Rates are used for worker compensation or reduction for personal use.

Management of expense  

With trackers, receipts can be uploaded that include fuel, parking, and other types of expenses.

Administration 

Administration time is reduced since the fleet management and finance teams have access to a variety of information, including a personal excursion report.

Benefits of Fleet Management Trackers 

Fleet management trackers may help firms improve their operations in a variety of ways.

Improve the safety of the driver

 Driver safety should be one of the most important priorities for Fleet management above anything else. A significant advantage of fleet management trackers is that they generate near real-time alerts and notifications concerning unsafe driving patterns. This type of technology is intended to aid increase road safety, which is desperately needed.

Fuel consumption is significantly lowered 

Fuel price fluctuations make tracking and planning for gasoline expenses difficult. But fuel usage is more than just KM/L, and having fast access to fuel tracking data is another advantage of fleet management trackers. This allows fleet managers to quickly discover possible savings.

Vehicle maintenance is significantly improved

Fleet maintenance and vehicle lifecycles are frequently areas that impose a strain on a company’s finances. Fortunately, fleet management trackers provide everything needed to create a fleet-specific preventative maintenance program, allowing a company to control maintenance expenses.

Improve customer satisfaction 

Fleet managers can use fleet management trackers to automate reservations and appointment reminders. Get notifications if a technician is late for work or has not yet viewed a job assigned to them. Consumers can benefit from better ETA accuracy thanks to GPS monitoring data. 

Conclusion 

Monitoring fleets and tracking mileage would seem to go hand in hand, but many businesses either use old and imprecise techniques like pen-and-paper or don’t measure mileage at all. Utilizing a fleet management system in conjunction with a full-featured mileage tracker app is a simple approach to saving time, money, and problems.